Panasonic Corporation

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ICICI Securities on behalf of Panasonic Corporation, Japan has informed to the public shareholders of Panasonic Appliances India in respect of the proposed acquisition and delisting of fully paid-up equity shares of the Company.

The board has also approved hiving-off of the running business of battery division of the company, located at Pant Nagar, Uttrakhand to a prospective joint venture between Minda Industries and Panasonic Corporation.

Panasonic Appliances India at its meeting held on October 18, 2014, has considered and approved the proposal received from the Promoters, Panasonic Corporation vide their letter dated October 17, 2014 on the intention to delist the Equity Shares of the company from the Stock Exchanges in accordance with SEBI Regulations, 2009.

Panasonic Corporation will hold 60 percent stake in the joint venture and the balance 40 percent will be held by Minda Industries that will transfer its running battery division (located at Pant Nagar, Uttrakhand) to the joint venture company.

Minda Industries has signed a Joint Venture Agreement with Panasonic Corporation, Japan to manufacture and supply of lead acid storage batteries for two wheelers, four wheelers and for other industrial batteries.

International media reports had said Panasonic will exit from the plasma TV business and stop manufacturing at its main plasma screen plant in Amagasaki in western Japan. As per the reports, the company was making huge loss on plasma TV and as a part of corporate strategy it is opting out from the business.

ICICI Securities on behalf of Panasonic Corporation, Japan has informed to the public shareholders of Panasonic Appliances India in respect of the proposed acquisition and delisting of fully paid-up equity shares of the Company.

The board has also approved hiving-off of the running business of battery division of the company, located at Pant Nagar, Uttrakhand to a prospective joint venture between Minda Industries and Panasonic Corporation.

Panasonic Appliances India at its meeting held on October 18, 2014, has considered and approved the proposal received from the Promoters, Panasonic Corporation vide their letter dated October 17, 2014 on the intention to delist the Equity Shares of the company from the Stock Exchanges in accordance with SEBI Regulations, 2009.

Panasonic Corporation will hold 60 percent stake in the joint venture and the balance 40 percent will be held by Minda Industries that will transfer its running battery division (located at Pant Nagar, Uttrakhand) to the joint venture company.

Minda Industries has signed a Joint Venture Agreement with Panasonic Corporation, Japan to manufacture and supply of lead acid storage batteries for two wheelers, four wheelers and for other industrial batteries.

International media reports had said Panasonic will exit from the plasma TV business and stop manufacturing at its main plasma screen plant in Amagasaki in western Japan. As per the reports, the company was making huge loss on plasma TV and as a part of corporate strategy it is opting out from the business.

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Panasonic Appliances India Company Limited has submitted to the Exchange a copy of Disclosure under Regulation 13 (6) of SEBI (Prohibition of Insider Trading) Regulations, 1992, in respect of allotment of 2,89,000 equity shares to M/s. Panasonic Corporation on conversion of convertible debentures

Panasonic Corporation has submitted to the Exchange a copy of Disclosure in terms of Regulations 13(4), 13(4A) and 13 (6) of SEBI (Prohibition of Insider Trading) Regulations, 1992, in respect of acquisition (by way of conversion) of 2,89,000 Equity shares of the Company. (Source MSE)

of Conversion of 2,89,000 Zero Coupen Compulsory Convertible Debentures of face value Rs.125/- each held by Panasonic Corporation. Consequent to this the Paid-up capital of the Company has increased from Rs.9,54,30,000 to Rs.9,83,20,000/- (Source MSE)

shares to Panasonic Corporation consequent to conversion of 289,000 Zero Coupon Compulsorily Convertible Debentures of face value Rs.125/- each held by Panasonic Corporation.Consequent to the allotment of the Equity Shares as above, the Paid-up Equity Share Capital of the Company stands increased

Source:The Hindu BusinessLine - Hyderabad, July 12: Japanese conglomerate Panasonic Corporation plans to invest about Rs 400 crore during this year in India as it seeks to expand its business across different segments, including smart phones and energy solutions. The corporation sees mobile phones

,89,000 Zero Coupon Compulsorily convertible Debentures of face value Rs. 125/- each to Panasonic Corporation on a preferential basis where each CCD will be convertible into one equity share of the Company of face value Rs. 10/- at a premium of Rs. 115/- per share. (Source MSE)

Debentures (CCD) of face value Rs. 125/- to Panasonic Corporation, foreign promoter of the Company, on a preferential basis where each CCD is convertible into one equity share of the Company of face value Rs. 10/- at a premium of Rs. 115/- per share within a period of 18 months from the date of allotment

Panasonic Appliances India Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on August 27, 2012 to consider the proposal to issue Compulsorily Convertible Debentures to Panasonic Corporation, foreign promoter of the Company on a preferential basis.